B737-300 LOSES RIGHT ENGINE DUE TO LOSS OF OIL QUANTITY DURING DESCENT.

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ON DSCNT AT FL220 AND 280 KIAS; I SAW THE #2 ENG OIL FILTER BYPASS LIGHT FLICKER TWICE. THE #2 ENG INSTS LOOKED NORMAL EXCEPT THE OIL QUANTITY WAS SLOWLY GOING DOWN THROUGH 3 GALS. WITHIN A FEW SECONDS; 2 LOUD BUMPS WERE HEARD AND FELT FROM THAT SIDE OF THE ACFT. WITH THE OIL QUANTITY GOING TO ZERO AND THE ENG RPM RAPIDLY DECREASING; I CALLED FOR THE ENG FAILURE/SHUTDOWN CHKLIST AND PROCEEDED TO SHUTDOWN THE #2 ENG. I DECLARED AN EMER WITH CTR AND ASKED FOR LOWER. TO MAINTAIN ALT; THE #1 ENG NEEDED TO BE PUSHED UP SO MUCH THAT SIGNIFICANT YAWING TOOK PLACE WITH DECREASING AIRSPD. DURING THIS TIME; WE WERE AVOIDING WX ON THE ARR BY DEVIATING E THEN GETTING A VECTOR TOWARD THE ILS RWY 28 AT ZZZ. APCH SAID WE COULD HAVE RWY 19; BUT WITH FLAPS 15 DEGS; APCH SPD 150 KIAS AND SINGLE ENG; I ELECTED TO TAKE THE LONGER RWY 28 WHICH WAS THE CURRENT LNDG RWY. THE RAIN STOPPED AT ZZZ AND WAS NOW VMC. THE AIRFIELD WAS SEEN AT 12 NM GOING THROUGH ABOUT 3000 FT. A VISUAL APCH BACKED UP WITH THE ILS WAS FLOWN. THE AUTOPLT WAS KEPT ON UNTIL THE ACFT WAS CONFIGURED. IT TOOK A LOT OF RUDDER INPUT ON FINAL AND FELT VERY MUCH LIKE THE SIMULATOR. DIRECTIONAL CTL ON THE RWY TOOK MORE INPUT THAN NORMAL WITH THE SINGLE ENG REVERSE THRUST. THE FIRE CHIEF GAVE ME A THUMBS UP AFTER LOOKING AT THE ENG; AND WITH GOOD COCKPIT INDICATIONS; I TAXIED TO THE GATE.